| Transactions with Related Parties |
The Group conducts material transactions with WGI through WSI and/or WTI,
which entities are service providers for WGI. These transactions and related balances are as follows:
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Receivables – clients – unsettled trade
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$—
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$1,549,709
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Receivables – clients – margin loan (net)(i)(ii)
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349
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3,276,678
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Receivables – software licensing (including
subscription based) and related support services
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1,800,000
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600,000
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Receivables – Total(iii)
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$1,800,349
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$5,426,387
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Contract assets
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400,000
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1,200,000
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Payables – brokerage services
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$40,745
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$1,417,153
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Payables – Broker-dealer
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—
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75,136
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Payables – Total
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$40,745
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$1,492,289
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(i)
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WSI
extended a credit line of nil and $4.3 million to WGI for margin transactions during the six months ended September 30, 2025 and 2024.
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(ii)
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As of
September 30, 2025 and March 31, 2025, the amounts consisted of margin loan receivables of nil and $3.5 million, net of client payables of nil
and $0.2 million, respectively.
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(iii)
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As
of September 30, 2025 and March 31, 2025, receivables from this customer, including margin loan receivables, have been either fully collateralized by the client-owned securities held in the customer’s account or fully collected.
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Revenues – brokerage commission and handling charge income
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$1,388,432
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|
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$892,837
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Revenues – interest income
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446,360
|
|
|
520,183
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Revenues – software licensing (including
subscription based) and related support services
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|
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400,000
|
|
|
600,000
|
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Total
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|
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$2,234,792
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$2,013,020
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The Group conducts transactions with Zhou Kai through WSI. These transactions
and related balance are as follows:
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Receivables – clients – margin loan
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$2,839
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$—
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Revenues – brokerage commission and handling charge income
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|
|
$2,065
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|
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$—
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|
Revenues – interest income
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|
|
6,448
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|
|
—
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Total
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$8,513
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|
$—
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Zhou Kai(i)
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$12,505
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$31,682
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Shenzhen Jinhui(ii)
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2,528,305
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1,766,092
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Due to related parties
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$2,540,810
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$1,797,774
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(i)
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The
balance represents borrowings from Zhou Kai for the Group’s daily operational purposes. The borrowings are interest-free, unsecured and due on demand. During the six months ended September 30, 2025 and 2024, there was no advances from Zhou Kai. During the six months ended September 30, 2025 and 2024, the Group repaid borrowings from Zhou Kai of nil and $1.8 million,
respectively.
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(ii)
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The
balance represents unpaid service fees to Shenzhen Jinhui, a service provider and sub-contractor of the Group’s project management services. Based on the services agreement, Shenzhen Jinhui charges the Group certain percents of markup
above its costs relating to service provided to the Group. During the six months ended September 30, 2025 and 2024, the Group purchased outsourcing and related support services of approximately $0.7 million and $0.5 million, respectively, from
Shenzhen Jinhui which were recorded as software licensing and related support outsourcing costs.
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